Skip to content

How Historical Data Can Help You In Forex

Do you need historical data to get a better understanding about foreign exchange? If so, keep reading, we have the perfect API for you!

If you’re a business owner, then you know that making well-informed decisions is crucial to your success. One way to do this is by using historical data to predict trends and make better-informed choices. Now, historical data is used by businesses of all kinds. From fintech startups to large corporations, everyone can benefit from this information!

A Forex API is an application programming interface that allows you to access foreign exchange data. It offers a wide range of currency updates, including historical and current exchange rates, as well as weekly updates on foreign exchange rates. This makes it ideal for organizations that need to deal with foreign currency transactions on a regular basis.

How Historical Data Can Help You In Forex
Image of two business people checking stock market chart on digital tablet. Fund manager looking at stock market chart on digital tablet.

Historical data can be obtained with this type of API (application programming interface). A forex API allows you to access real-time and historical currency rates; which are available in various currencies across major exchanges worldwide. You can use this information to analyze, for instance, trades; whether they were performed by other traders or even your own. Or, you can analyze past trends to predict future market changes and the outcomes of a specific currency.

Obtain historical data by using Exchangr API

Exchangr API is a RESTful web service that provides currency conversion, historical data, and real-time exchange rates. It allows you to get JSON-formatted current exchange rates. The API may be used to access the most up-to-date exchange rates for any of the 30.000 supported currency pairings, as well as historical values for a certain time period.

Furthermore, the Exchangr API was created using the most cutting-edge technology available; allowing high-frequency access to live rate data for all currencies throughout the world. This service allows users to get real-time information about currency rates in various countries and incorporate it into their websites! This is due to the fact that the Exchangr API supports several programming languages, including PHP, Python, and JavaScript.

How Historical Data Can Help You In Forex

Can I use Exchangr API right now?

Absolutely! First, to use this API, you need to carefully read the documentation provided by Exchangr here. After you’ve finished reading it, you may put it to use by following these steps:

  • Create an account here. You may join Exchangr for free without a credit card if you just want to give it a try. By registering, you will receive an API key. Exchangr’s endpoints may be accessed using this one-of-a-kind number and letter combination.
  • Choose the currencies you wish to convert or obtain rates for.
  • Follow the API documentation to make the API call.

And that’s all; the rest is up to the Exchangr API! Within seconds, you will have the information you require!

Now that you know how historical data can help you with foreign exchange, use Exchangr API and thrive!

Related post: Keep Your Money Moving With A Free Foreign Exchange Rates API

Also published on Medium.

Published inAppsApps, technologyCryptocurrenciesE-commerceFintechStartupsTechnology
%d bloggers like this: